PTM Wealth Management LLC Invests $208,000 in GE Vernova Inc. $GEV

Key Points

• PTM Wealth Management LLC invested approximately $208,000 in GE Vernova Inc., acquiring 403 shares of the stock.
• GE Vernova reported a quarterly revenue of $9.11 billion, exceeding analysts' expectations and an EPS of $1.86, which was above the consensus estimate of $1.63.
• The company's stock has a current price-to-earnings ratio of 150.84 and a market cap of $170.41 billion.

PTM Wealth Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 403 shares of the company's stock, valued at approximately $208,000.

Other hedge funds also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the 1st quarter worth approximately $27,000. Orion Capital Management LLC purchased a new position in GE Vernova in the 4th quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares during the last quarter. Finally, 1248 Management LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $31,000.

GE Vernova Stock Performance

GEV opened at $625.99 on Monday. GE Vernova Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $677.29. The firm's fifty day moving average is $608.65 and its 200 day moving average is $469.09. The stock has a market cap of $170.41 billion, a price-to-earnings ratio of 150.84, a price-to-earnings-growth ratio of 4.32 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GEV shares. Barclays boosted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Susquehanna lifted their target price on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Citigroup boosted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $580.04.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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